For yet another year, residents of New Jersey have been subject to among the highest property taxes in the nation. Data compiled by the NJ Department of County Affairs shows that property owners paid an average of $8,549 in property taxes for 2016, representing a 2.35% increase from the previous year. Continue reading “New Jersey Ranks High!…..For Property Taxes”
Politicians from both sides of the aisle in Trenton have finally reached an agreement to replenish the Transportation Trust Fund after many delays. While all residents of the Garden State won’t be impacted the same, the implications will be far-reaching nonetheless. The new deal confirms a 23-cent hike in the gasoline tax, which on top of the current 14.5 cent/gallon tax – brings this tax to 37.5 cents per gallon, up to the seventh-highest in our country.
We’ve commented on the national economy as well as jobs across our country on several occasions over the past couple months. Today, however, we want to comment on the state of employment in, well, our own state: New Jersey. Just how far has the Garden State come in terms of recovering the number of jobs lost since the pre-recession peak in 2008? Very far, according to the Rutgers Economic Advisory Service (R/ECON). To illustrate how close, Nancy Mantell, the director of R/ECON, recently noted that NJ will match the previous high sometime in early 2017.